The herd is leaning the other way.

I had to tend to some family business Thursday night so I have to make this quick.

After weeks of mixed signals, the indicators are starting to line up for a market fall.  The overbought readings, weak seasonality, technical damage to charts, smart money OEX options traders getting very bearish, and now "the herd" is leaning to the bullish side again. 

The AAII Investor Sentiment Survey shows the bulls are up to 51% from 42% last week.  That's the most bullish they have been since late July.  Bears decreased slightly going from 32% to 29%.





                           Chart provided courtesy of www.decisionpoint.com

Thursday was ripe for a bounce and we did see one early, but as the day went on the bears took over.  We are seeing more selling of the rallies lately, rather than buying the dips.  I don't have a warm fuzzy over this market.  Today (Friday) is the final day of options expiration week so anything could happen.  If we get a rally I think that would be trouble for next week.

That's all for today.  Sorry to make this so short.  I'll be back with you Monday morning.  Currently 100% G fund.  Thanks for reading and have great weekend!